Toronto, November 21, 2024 – The Workplace Safety and Insurance Board (WSIB) announced today the average premium rate for Ontario businesses in 2025 will be reduced to $1.25 from $1.30 per $100 of insurable payroll, the lowest it has been in more than 50 years.
In addition, in early 2025 the WSIB will return $2 billion in surplus funds to eligible safe Ontario businesses.
“By reducing premiums and distributing surplus rebates we’re pumping over $2 billion into the Ontario economy for businesses to reinvest in their workplaces,” said Jeffery Lang, WSIB President and CEO. “I’m proud that our strong financial position is allowing us to help businesses and contribute to the economic prosperity of Ontario while also investing $2.5 billion every year to help people recover and return to work by covering health care costs and income replacement.”
Businesses will be able to further invest in new jobs, technology, and health and safety improvements, such as joining the Health and Safety Excellence program. Starting in 2025, all program members will receive an extra $1,000 every time they create a new health and safety action plan in the program.
The WSIB has cut the average premium rate by more than 50 per cent since 2017 while expanding coverage and improving service for people injured or made ill at work. In total, average premium rate reductions and a historic surplus distribution have resulted in cumulative savings for businesses of approximately $18.6 billion.
The 2025 surplus distribution will be the second in the WSIB’s history. In 2022, the WSIB issued its first-ever surplus rebate to safe employers, injecting over $1.2 billion into Ontario’s economy as businesses recovered from the COVID-19 pandemic.
The WSIB remains focused on modernizing its service delivery to ensure better outcomes for people injured at work, provide more value for the premiums businesses pay, and improve health and safety in Ontario workplaces.
“We take the efficiency and effectiveness of our operations very seriously,” says Lang. “We are working on initiatives to make it surprisingly simple to work with us and exceed the expectations of the people and businesses we serve.”
Ontario businesses can access their individual 2025 premium rate statements exclusively online on the WSIB’s website.
Surplus rebates are expected to be distributed in February 2025. More information can be found at wsib.ca/rebate.
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